Paying on the principal with a car loan?
2006-10-27 05:30:08 · 8 answers · asked by Sweet T 2 in Cars & Transportation ➔ Buying & Selling
absolutely if you are paying more you should apply the amount over to the principal. This not only saves you money in interest...but pays the loan off faster.
2006-10-27 05:35:17 · answer #1 · answered by Kenneth S 5 · 0⤊ 0⤋
Yes. You'll pay off your loan quicker and save interest.
2006-10-27 05:33:03 · answer #2 · answered by chuckwilmoth@sbcglobal.net 1 · 0⤊ 0⤋
that would be the smart thing to do but to most that would mean more room in the budget for a higher car payment, then they would trade in their current car and upgrade. spend spend spend
2006-10-27 05:47:41 · answer #3 · answered by typhon1991 3 · 0⤊ 0⤋
confident you money would be utilized to crucial. they are going to instruct you a chit on next months fee yet you merely ought to overlook approximately that and keep making your prevalent fee plus $one hundred.
2016-12-08 22:32:05 · answer #4 · answered by zagel 4 · 0⤊ 0⤋
yes, this means less interest for u to pay as well
2006-10-27 05:33:59 · answer #5 · answered by jenivive 6 · 0⤊ 0⤋
yes.
it will lessen the amount accrued as interest you will have to pay later.
2006-10-27 05:32:24 · answer #6 · answered by Robert 5 · 0⤊ 0⤋
Of course, to do otherwise would be in$anity.
2006-10-27 05:33:46 · answer #7 · answered by Anonymous · 0⤊ 0⤋
afaf
2006-10-27 05:31:30 · answer #8 · answered by harry_cooleye 1 · 0⤊ 0⤋